The
largest whistleblower payout in United States history was made in the amount of
$167.7 million under the False Claims Act. The
False Claims Act allows private persons to file suit for violations of the
False Claims Act on behalf of the government.
A suit filed by an individual on behalf of the government is known as a
“Qui Tam” action. The whistleblower is entitled
to receive between 15 and 25 percent of the amount recovered by the government
through the qui tam action. In addition
to the False Claims Act, the Internal Revenue Service,
Security and Exchange Commission, and U.S. Commodity Futures Trading Commission have whistleblower programs that offer monetary
awards. For example, the largest payout
under the Internal Revenue Service’s whistleblower program was for $104 million
to a former banker who helped the U.S. Government uncover tax evasion. Also, the biggest whistleblower award under
the Securities and Exchange Commission whistleblower program was paid out $14
million. If you’re hoping to get rich
from the U.S. Commodity Futures Trading Commission whistleblower program don’t
hold your breath, no payouts have yet been paid out to whistleblowers.
Whistleblower Award Program
Rankings:
#1.
“Qui Tam” Provision under the False Claims Act
#2.
Internal Revenue Service
#3.
Security and Exchange Commission
#4.
U.S. Commodity Futures Trading Commission
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